Explore the evolving landscape of mortgage origination, influenced by shifting interest rates, housing market dynamics, and regulatory changes. Discover strategies for lenders to adapt and thrive in this dynamic environment.
Estimated reading time: 0 minutes, 23 seconds
Rate lock volumes slid 8.9% in the month of August to their lowest level since December 2019, Black Knight’s Originations Market Monitor report finds.
Purchase locks fell 8.7%, while rate/term refis tumbled 13.9% and cash-outs dropped 8.7%, according to Black Knight.
“Mortgage originators continue to feel the effects of interest rate and affordability challenges,” Scott Happ, president of Black Knight division Optimal Blue, a division of Black Knight, said in a statement.
